AmerUs Group's Profit Falls
AmerUs Group (AMH), a life insurance and annuity products company, said its third-quarter earnings fell 49.7% from the year-ago period, on the back of charges.
The Des Moines, Iowa-based company earned $5.3 million, or 12 cents a share, in the quarter, compared with $38.6 million, or 91 cents a share, a year ago. Adjusted net operating income was $52.4 million, or $1.22 a share, in the quarter, compared with $48.6 million, or $1.14 a share, a year ago. Adjusted for capital transactions associated with the Aviva merger, the company earned $1.27 a share in the most recent quarter. Analysts were expecting earnings of $1.26 a share.
Third-quarter revenue rose 14.6% from the year-ago period to $496.4 million, as compared to analysts' expectation of $425.7 million.
Sales of fixed-life products increased 13% to $33.5 million, driven by consumer demand. Fixed annuity products sales remained flat at $687 million.Net investment income was $291 million in the quarter compared with $279 million last year, led by growth in invested assets and higher yields on investments. The company's shares were trading up 3 cents to $68.51 Wednesday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV